BP’s failed Argentine deal increases pressure on CEO

7th November 2011

The sale, as the Wall Street Journal notes, was supposed to allow BP at least to partly fund compensation for the Mexican Gulf oil spill. It is also the second major deal to fall through this year, while the company is also embroiled in a legal dispute in a New York court over its Russian investments.

The WSJ says that CNOOC and Bridas had been responsible for getting Argentine antitrust and Chinese government approvals, but they hadn't been able to achieve this.

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